Health Care in Retirement

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If you’re concerned about health care expenses in retirement, you’re far from alone. In a survey of several thousand investors conducted in
April 2010, health care expenses ranked as the #1 financial worry for retirement. Interestingly, the wealthier the investor, the more likely they were to say health care expenses were a top
worry.

This is because today’s retirees can expect to spend 25 years or more in retirement, based on projected life spans, and some may actually spend more years in retirement than they did
working, making longevity and the potential for health issues later in life a critical consideration when planning for your income needs in retirement. But despite the fact that health care
will be one of the greatest expenses for Americans in retirement, most people have not adequately planned for this expense.

The good news is that both pre-retirees and retirees are realizing
they need help, and are taking steps to drive more positive outcomes. Ensuring the outcome you desire requires comprehensive planning to ensure all aspects of your lifestyle needs and finances
are properly coordinated. Considerations include: thoughtful evaluation of your retirement income sources, when you plan to retire and begin taking Social Security benefits, how much money
you will be able to withdraw each year without prematurely depleting savings, your tax strategy, and how all of these decisions align with your estate planning needs.

Working as your advocate
and guide, an independent financial advisor can help ensure that you remain on track towards your goals, through continual monitoring of your plan and investment strategy, and by making needed
adjustments along the path to your goals.